Haidi welcomed today by garth roy im hiding stroudwatts in sydney. Annabelle im annabelle droulers. Shery im shery ahn. The top stories this hour. Treasuries excel off while equities churn as investors digest higher rates and Rising Oil Prices with the dollar extending its climate. Annabelle the largest u. S. Memory chipmaker warning of a steeper than expected loss this quarter. Shery how the new honda ce cash qantas ceo turns around mistrust after being grilled by australian lawmakers. How u. S. Futures are coming online after stocks finished the session mixed. We saw the s p 500 fluctuating between gains and losses to finish where it started. It erased some losses after President Biden touted artificial intelligence. The nasdaq 100 outperforming finishing in the green. We had at micron smiths after hours adding to technology pessimism. Look at the 10 year yield. The 460 level, the slump resuming in todays session. The 10 year yield is over one percentage point higher since midmay. We
Profits to buy. New home sales rose more than 3 in september, to their secondhighest level of the recovery. Still, builders are struggling to keep pace with demand. Production is up, but not by enough. Diana olick has more now on housings big challenge. Reporter the autumn leaves are mostly changed, but the market for newly built homes is still in something of a holding pattern. Sales figures rose in september, but only after the readings from the summer were revised down sharply. The overall trend is higher, but not by much. Really struggled to take off. Theyre nowhere near where they need to be. If you think about a normal market, where supply is meeting demand, they presently probably need to be about 800,000 to 1 million so quite a bit higher. Reporter the supply of existing homes for sale is still very low, as millions of entrylevel properties were bought by investors during the housing crash, and now Service Still vibe rant rental markets. Buyers are desperate for new constructio
Profits to buy. New home sales rose more than 3 in september, to their secondhighest level of the recovery. Still, builders are struggling to keep pace with demand. Production is up, but not by enough. Diana olick has more now on housings big challenge. Reporter the autumn leaves are mostly changed, but the market for newly built homes is still in something of a holding pattern. Sales figures rose in september, but only after the readings from the summer were revised down sharply. The overall trend is higher, but not by much. Really struggled to take off. Theyre nowhere near where they need to be. If you think about a normal market, where supply is meeting demand, they presently probably need to be about 800,000 to 1 million so quite a bit higher. Reporter the supply of existing homes for sale is still very low, as millions of entrylevel properties were bought by investors during the housing crash, and now Service Still vibe rant rental markets. Buyers are desperate for new constructio
Despite a dwindling inventory of profits to buy. New home sales rose more than 3 in september, to their secondhighest level of the recovery. Still, builders are struggling to keep pace with demand. Production is up, but not by enough. Diana olick has more now on housings big challenge. Reporter the autumn leaves are mostly changed, but the market for newly built homes is still in something of a holding pattern. Sales figures rose in september, but only after the readings from the summer were revised down sharply. The overall trend is higher, but not by much. Really struggled to take off. Theyre nowhere near where they need to be. If you think about a normal market, where supply is meeting demand, they presently probably need to be about 800,000 to 1 million so quite a bit higher. Reporter the supply of existing homes for sale is still very low, as millions of entrylevel properties were bought by investors during the housing crash, and now Service Still vibe rant rental markets. Buyers
Session. And the s p 500 down 6. 70 points at 1409. December a historically good month for the markets. The s p has risen 8 of the past 1 years in the final month of yeert. With fears of the looming fiscal cliff, can the trend continue . Were bringing in mike from Yahoo Finance and cnbc and yahoo have a Business Alliance to share and coproduce editorial content and gordon along with bob pisani. Gordon will be along momentarily. Michael, let me start with you. You say this markets preoccupation with the fiscal cliff is overdone. Do you think we go back to the trend and that is that december is a good month on the upside for stocks . Definitely one of the tail winds. All else being equal, probably definitely a strong point for the market. I think this market is laboring to look through the interim noise. You had decent pmi numbers, with the ism disappointing and i think the market is trying to assimilate all this. One thing i take encouragement from, things like junk bonds, small caps ha